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with a group of u.s. hedge funds won't need to be heard in a u.s. court. the appeals division of the new york supreme court has ruled there isn't enough connection between those events and the new york state to justify the case being held there. the court ruling noted that germany's legal system would provide an adequate alternative. certainly not the last chapter in that saga. >> no. probably not the last saga in this, either. hewlett packard has suggested the u.s. is looking into questionable accounting practices. last month's ceo meg whitman used that as the basis for a nearly $9 billion write-down. the ex ceo mike lynch continues to defend the company's accounting practices. hewlett packard, a little higher in german trade this morning. but down by 20% of its value. >> not a pretty quarter for hewlett packard. >>> brent crude has climbed above the $100 a barrel mark as u.s. lawmakers attempt to avoid the fiscal cliff. but crude is poised to post its smallest gain in three years. wti is set to post its first annual last in four years. ian, welcome. we've seen this sharp decline in oil pric
've been investing for around 20 years, he says. compared to new york and london, investments in china are relatively new. the markets he said are dominated by small time chinese investors who bet more on gossip and behavior rather than company profit. trading halls here feel like gambling debs. people in trading rooms like this one with just wiling their time away. most of them are stereo scared to get back into the market. chinese investor res paralyzed by the worst economic growth since the 1990s. historically, the markets here have gone through booms and busts, but have never gained the stad temperature of the economy. now the world's second largest. the problem is, people don't trust what they're buying. that reality was exposed by a accounting scandals in the u.s., involving new york listed chinese companies currently under scrutiny by the securities and exchange economic oh sec. >> the chinese regulatory authority only do themselves a disfavor by not being more cooperative with other international regulators such as the s.e.c. and then investors back home here will pick up on th
in london and modeling systems already in place in new york and hong kong. joining us now with more details, pasmovoro gordoto. thank you. >> midtown lopped has a new project pilot system where you'll see not just, what, four buildings where they're using the roofs for agriculture, but because they're trying to fully recycle what's up there and make these closed systems. >> that's right. we've got four rooftop pilot projects and more in the pipeline and potentially innovative projects that could be rolled out through central london. what's the cost? >> as a pilot, it's about 35k. going forward, it stands to save around 10% of energy usage and, obviously, cut emissions by 10%, as well. >> so 35 pounds apiece. how long does it take usually for that to recoup that cost? >> it wouldn't take long at all. if you think about it, we've got large corporate in central london burning vast amounts of energy. we've got a lot of historic buildings that's quite hard to green. so the impact of a green roof has fantastic insulation qualities. >> i think actually nbc is in central london. cnbc is here, but n
bloomberg of new york told me a couple weeks ago on this program that ought to be your number one agenda item. you know how hard this is. do you have the stomach for the political fight for new gun control laws? >> you know, david, i think anybody who was up in newtown who talked to the parents, who talked to the families, understands that something fundamental in america has to change. and all of us have to do some soul serving, including me as president, that we allow a situation in which 20 precious, small children are getting gunned down in a classroom and i've been very clear that, you know, an assault rifle ban, banning these high capacity clips, background checks, that they're a set of issues that i have historically supported and will continue to support. >> but can you get it done? >> so the question is are we going to be able to have a national conversation and move something through congress? i'd like to get it done in the first year. i will put forward a very specific proposal based on the recommendations that joe biden's task force is putting together. >> but it's not going
of the new york area. if new york has a difficult season, that's going to be difficult on the overall numbers. that said, in the southeast and the south central regions of the country, luxury sales were up 5% to 6%. so again, it depended where you were. but luxury retail sales did relatively well. other sectors, women's apparel did have a positive year. as well as furniture and furnishing were also up. primarily we think due to the housing market recovery. >> yeah. today also a big day for returns, i don't know if you got gifts and are planning on taking time off later to be able to swap them back. michael, how does the return situation impact the numbers that we see? we're going to have a lot of people going to the malls, right? a couple of thing will happen. one, they'll be returning items. you may get even exchanges there. i wonder if they're going to be spending more because they're out and about with their families. and also you have the issue of the gift cards because that -- the retail, the revenue from the gift cards is going to be booked once those gift cards are actually used. so ho
these negotiations. >> i've had conversations with people in new york and working on trade floors. what i've been told by them is there is a huge number of meetings going on around closed doors avoiding all cameras. there has to be a solution. both parties would be blamed if they didn't have a solution. so we know there's going to away solution. it's just what solution is it going to be? >> is it fair to say a grand bargain is off the table? >> or maybe a solution for a few months just to keep it going pap complete collapse is not acceptable. it's not an option. but maybe prolonging this for another three or four months and maybe having longer discussions about it may be the only solution they can come to. >> we're talking about how taxes could potentially go up for 98% of americans. is it going to be an issue of if and when that happens, if they don't reach even a short-term solution, that you really feel it at that point? >> because we have seen alg bit of a recovery in the u.s., up until this point. and people have been feeling more positive. but if you look at the retail numbers and you look
for us in zurich. how will this pan out, carolyn? >> well, this is all based on reports in the "new york times" that came out overnight, ross. and the most interesting piece of information in that report at least i think is the fact that the fine for ubs in connection with the libor investigation could be higher than that that was given to barclays in the summer. remember, barclays paid $450 million to settle that libor probe. and at the time that was a record fine. so now the new york teams is talking about a fine that could be even higher than that. ubs in zurich told me they have no further comment beyond the fact that they have been fully cooperating with regulatory and enforcement authorities in this libor investigation. so we didn't get any confirmation from ubs whatsoever. but the "new york times" does report that u.s. officials are hoping to complete the settlement with ubs maybe mid-december, but of course there could always be delays.is scant, but ubs is probably looking at a very hefty fine and shares in zurich this morning are underperforming the broader market, flat versus t
important. ten from new york, ten from, i would say, hong kong and shanghai, in from singapore. you have a difficulty to understand that underlying you have a historical endeavor. and so it's difficult to make up your mind on the basis of only what is apparent because you have only to price in the very, very powerful underlying historical endeavor. >> if you're just joining us here on "worldwide exchange," these are your headlines. president obama and congress return to work today with little progress seen on a deal to avoid the fiscal cliff. the yen hits a two-year low against the dollar as the new japanese government battles deflation and a weakening currency. >>> and shares in toyota are higher after the company settles a class actions lawsuit in the u.s. for $1 billion. and here is a look at today's other top stories. starbucks is hoping the power of caffeine will help bring congress together to avoid a deal on the fiscal cliff. the ceo is earning to write "come together" on cups today. schultz says, quote, we're paying attention. we're greatly disappointed in what's going on and we
already paid to new york state regulators in the third quarter. but despite that, q4 earnings will still ygrow in the mid single digit range. presumably actually clarity on fines is good. >> it brings closure. several thinking it could be several multiplmultiples. so improved visibility on that is definitely a positive. >> and here is city saying they're cut 1g 1,000 jobs. standard chartered is talking about hiring another 2,000 jobs. and if they get an increase in earnings, another record year. >> they're extremely well positioned. they're in the sweet spot of the global economy, where thes fastest growth is to some extent. asia, indonesia, africa. they have a very strong balance sheet. so they're in the position to really gain market share even in the context of a slightly slowing macro picture. but interestingly since the third quarter ims, we heard today from standard chartered again and they were quite upbeat particularly for the likes of singapore and i sandia and so forth. so outlook for revenue is actually quite positive and it's on quite a low multiple and could easily rerate to
at new york levels. that's where we stand right now in this european session. let's recap the trading week so far in asia. deidre has more for us in singapore. dei. >> ross, you were just talking about the yen. let me start there. it did hit a 20-month low against the u.s. dollar. that helped out u.s. equities. they hit an 8 1/2 month high after shinzo abe won the election. japanese equities, they moved inversely. the korean won is strengthening against the yen and this is putting it head to head with some of the japanese carmakers. it's causing concern about the korean carmakers because their vehicle res now becoming more expensive. so we did see some weakness there. moving on the tote greater chinese markets, the shanghai comp continued to gain. it has been on quite the rally throughout december rising about 9%. keep in mind, though, that this is a government orchestrated rally. we saw that huge surge on friday, more than 4%. it continued today gaining more than .5% and it has cut down the losses that mainland equities have seen this year. however, i wouldn't hold my breath. we have
to new york and take a look at housing figures in the u.s. it looks like the real estate sector may be moving on up. here in london, will be picture be so optimistic? mortgage and retail figures out later this morning should give us an indication. >>> plus, in a global exclusive, cnbc's geoff cutmore speaks with alex ushmanov on his return on facebook, and his outlook for the xwloeshl economy. >>> welcome back to the program. it's been a busy year. after 12 months of uneven growth, the prospects for 2013 look equally uncertain. billionaire investor and russia's wealthiest man alisher usmanov told cnbc's geoff cutmore that rebalance of growth is need. >> 2013 will be a year where we need to search for solutions. there is a big discussion going on about the state of the global economy. everyone is involved in that debate, in that discussion about wa to do. governments, central banks, economists, businessmen, scholars. so as far as i'm concerned, what really worried me and what i think is the real cause of the uncertainty is the enormous disparity that exists between the various moneta
to the council on foreign relations in new york, duke says what's going on in washington could affect their holiday shopping plans. >> the week before the election, only 1/4, 25% of our core customers even knew what fiscal cliff meant. okay? one week after the election, it was up to 75%. now these same customers, 15% of our customers are telling us this discussion about fiscal cliff will affect what they spend on christmas. >> and most americans aren't close to finished with holiday shopping yet. giving retailers a hope for a big boost in the last few weeks beforesom christmas. 58% of those surveyed said they completed half or less of their holiday shopping so far. i've got a little guilt on that front. >>> joining us for more, global ceo of sanrio. welcome. waving to the world there. >> yes. >> happy holiday. >> wearing your brand, as well. >> happy holiday from mr. mann. >> we should point out that mr. men is a key part of your strategy which is changing, is it not? >> exactly. last year we started to did mergers. this is our first acquisition, international acquisition. >> which is
along the lucrative transatlantic root from new york. joining us is portfolio manager at anc capital. arthur, thanks for joining us. how important are heathrow slots if you want to compete? >> i think they're important to have a presence there and when you look at what delta is doing specifically, they're increasing their scope. and when you look at the flights and the offerings that delta has, it's week relative to american b.a. so what delta wants to do, it smells an opportunity here to give an offer to go customers because this is a network business and move those customers that maybe are going on ba, aa, or united out of newark on o. to the delta large system. and that's the opportunity it has. and conversely people here that want to come to the states or the big network delta has to get people to points beyond i think for virgin to be part of a transaction here, you get the united states market which is a large market. >> you have sink more airlines which would sell, sky team with delta and sort of ba, aa team, as well, how are those three global shaping up, who is winning? >> w
at the fedex express center in the bronx, new york, where the employees are gearing up for what would be the busiest day in the shipping country's history. >> we publicly forecast a couple weeks ago that on the 10th we would move 19 million shipments through our networks. that's up about 11% year over year. e commerce is causing a significant amount of growth. retails sales will be up somewhere in the 375% to 4%. >> as fedex fill necessary for santa claus, its 300,000 plus workers will move 200,000 packages per second today. there are still 14 days until christmas eve, but if he fedex sees today as its busiest day of the year because of the record number of orders in the stm at any time. so that includes the millions of packages from cyber monday shopping that are being shipped today as well as the new orders that come into the system from today's green monday shopping event. now, in about 45 minutes, you'll see the biggest sort of the day come through here behind me. right now, it's quiet but that's because we're gearing up for that big moment of the day. it's also green monday today
? >> well, i don't know whether that's actually on the agenda. mr. bloomberg is currently mayor of new york city and doing a good job. >> and doing a quite capable job. lionel barber is the editor of the financial times. we thank you for your time this morning. >>> now let's take a quick look at the swiss franc. why? this is one place in particular in an exclusive interview with cnbc, the chairman says they could employ negative -- to swees the swiss franc low. >> the swiss franc remain aes strong currency and we expect it to weaken over time which is economically the right thing that should hab. >> the fed has said it will now have numerical targets for its monetary policy. are you considering similar targets for as to when you would change your stand on the minimum exchange rate? >> every country obviously has a little different monetary policy. it is crucial to maintain for the time being. that's the right decision for this area. >> the swiss frank is notably weak weakened. given that these measures have seemed to work, would you can happen consider similar measures? >> we do not exclude
on pricing. so for more we're joined by daniel i've, senior analyst at fbr capital markets from new york. good morning. strong set of numbers from oracle. what's the read through for the rest of the market? >> it's a great read-through, especially for q4. a lot of nervousness out there. they came through with strong numbers, and it bodes well for overall technology going into 2013. >> want to look at the details here. particularly the hardware versus software shift. now, oracle, of course, the software business continues to did well. hardware, they bought sun microsystems for, what, $5 billion, $5.6 billion a couple of years ago. and that division has posted a drop in revenue every quarter since. are we to believe that they'll finally show growth here come march? >> a good question. look, the software, you know, at this point, that's the meat and potatoes. a new software license up 10% organically. you looked real strong. that's the focus for investors. the hardware continues to be a work in progress. again, they're focusing on the more profitable areas. the key is they still expect that
Search Results 0 to 15 of about 16